A Marital Settlement Agreement, also called a “Separation Agreement” or “Property Settlement Agreement” is an agreement between divorcing spouses that lays out the terms of their divorce settlement. You will rarely find two Marital Settlement Agreements that are exactly alike, because different states have different rules about what must be spelled out, and because each individual couple will have their own set of circumstances to consider.
When we draft a Marital Settlement Agreement for our clients, we always consider issues such as child support, spousal support, child custody, division of assets, and division of debts. In addition, other issues, such as life insurance or pet care, can be addressed.
For couples where there are many to details to consider, the Marital Settlement Agreement can be quite complicated and lengthy. In other cases, where a couple does not have any children together and does not have joint assets or debts, the Marital Settlement Agreement can simple and brief.
In all cases, the drafting of the Marital Settlement Agreement is an important first step in the divorce process, and should be handled by an experienced divorce attorney.